Los Angeles daily herald. [microfilm reel] (Los Angeles [Calif.]) 1884-1890, 1887-11-19

Treasurer is published. Its plethoric
exhibit of funds to the National credit
would be subject for warm congratu-
lations were it not for the rejection
that the greater the surplus is the
worse off is the country. There are
now locked up in the treasury vaults
nearly $500, 900 900. This is nearly
twice the amount tied up two and a
half years ago when the present Ad-
ministration came into power. From
any other point of view than that oil
the withdrawal of 80 mnch OF the cir
culating medium from the channels OF
trade this is most admirable showing.
The expenditures OF the Nationa!
Government have greatly increased,
the main item of increment
being, as this report states, in the
pension list. This bounty to the sol
diers of the Union now comes to
nearly 500, 100000 annually. And
while these expenditures have sc
greatly enlarged in the course OF two
years, the government has really done
much in the way OF improvement moi
attempted before. Yet, in spite OF all
efforts, there was surplus of $685.
Al .O97 last year. The sales OF public
lands to actual settlers were more
numerous than for years before; the
postofice department yielded a net
income of $16S, 512, whereas until this
year that branch of the service has
been a burden on the country ever
since the rates of postage were re-
duced. If it were possible to pay out
the half billion of money in the Treas
ury in the redemption OF outstanding
bonds of the Government without
paying a ruinous premium in so doing.
the present condition OF the tariff
would matter less. No more bonds
can be redeemed until 1891. Tohoard
money for three more years is an ap-
palllng proposition. Some way must
be devised to distribute the surplus
among the people to be used in the
business of the country. Under our
present tariff schedule, an entailment
of extravagant Republican rule and
of monopolistic Republican pro-
lection, this withdrawal of money from
trade channels must continue. 1t is
not to be supposed that the Pension
Bureau will furnish much wider out
let than that now open. 1t is nearly
q quarter of century since the war
ceased. The veterans must have
nearly all put in their claims by this
time, and many of them are yearly
departing to the land beyond, where
the soldier sleeps, his warfare DER.
The interest on the public debt is
much less of a drain on our resources
than it was. At one time the
National obligations rose to over
top two and half billions. The
figure is now close to the billion line,
and will have crossed that mark be-
fore the next annual report of the
Treasurer is handed in. Besides this,
the rate of interest has been reduced
from seven, six and even five per
cent. to three and a-half and four.
The trouble is to greatly reduce the
tariff schedule and not seriously in
terrupt the current of business. All
changes made in the list tend to dis
turb commerce in some degree. But
some plan must be devised to reform
the present system. The excessive
imposts placed on many articles Of
commerce were devised to help the
rich, who have enough already, and
their incidental effect is to burden the
POOR, who really need protection. In
the revision of the tariff, which it is
earnestly hoped will be seriously at
tempted at the coming session OF Con-
rress. these are the elements in the
question to be kept steadily in mind.
The Democratic doctrine, which is as
old ss Thomas Jefferson, is the true
line of procedure. 1t was reformu-
lated in the platform of the last Ma
tionsl Democratic convention. 1t is,
briefly, this: An economical Admin
istration OF the Government, which,
Of course, means an honest Admins
tration; tariff for revenue to support
the Government thus administered;
and schedule so arranged as
10 afford. incidentally, protection to